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Experts expect high street chain to report £262m pre-tax profits
HIGH street bellwether Marks and Spencer is expected to ask for more time to turn around its struggling clothing business tomorrow (Tuesday, November 5), when it reveals its quarterly results.
The chain is set to report its ninth consecutive quarter of falling general merchandise sales, which span clothing and homewares, when it publishes its results for the six months to the end of September.
Another fall in general merchandise sales would put more pressure on chief executive Marc Bolland.
Mr Bolland has invested heavily in advertising campaigns, which feature stars such as Dame Helen Mirren and Helena Bonham-Carter, to revive clothing sales.
However, analysts on average expect the company to report pre-tax profits of £262m for the six months, down from £289.5m a year earlier.
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